Yagnesh Mohanlal Devani, the embattled businessman at the heart of the Sh7.6 billion Triton Petroleum debacle, has filed a bombshell civil suit against Kenya Commercial Bank (KCB) and the Central Bank of Kenya (CBK), demanding a comprehensive forensic accounting of every shilling handled during the company’s 17,year receivership.

In a dramatic reversal of fortunes, Devani once the hunted is now the one on the offensive.

Through his legal team, he is demanding a full and transparent reckoning of all assets, disposals, recoveries, and expenses incurred by the receiver managers appointed under KCB’s watch since Triton was placed under receivership in December 2008, at the request of KCB and the Eastern and Southern African Trade and Development Bank, citing Triton’s inability to pay loans.

The suit raises explosive questions: What happened to Triton’s assets during nearly two decades of receivership? Were creditors and shareholders given a fair account? Who benefited, and how much was recovered?

In his court papers, Devani claims that there are no comprehensive accounts that have been rendered to shareholders since the company was placed under receivership.

The application alleges that there has been no clear disclosure on how Triton Petroleum’s assets were managed, disposed of, or how much was recovered during the period.

Devani further claims that expenses incurred throughout the receivership have not been adequately explained.

The businessman is also raising concerns over the conduct of the lenders and the regulator.

He accuses the banks of failing to account for assets under their control, while the receivers are alleged to have breached their fiduciary and statutory obligations.

The Central Bank of Kenya (CBK) is cited in the proceedings for allegedly failing to intervene despite its supervisory role over the banking sector.

The High Court has certified the matter as urgent and directed the respondents to file their responses within seven days.

Earlier, KCB had sued Triton for Sh2 billion for oil imports secured through various debentures, while Devani himself was sued for allegedly stealing Sh2.7 billion from the bank.

But with criminal charges now largely crumbling,the Sh7.6 billion EACC case was withdrawn after key witnesses, including former Energy Minister Kiraitu Murungi, were unwilling to testify, Devani appears to be pivoting aggressively to the civil arena.

At the peak of the scandal, Triton’s financiers, including KCB, Fortis Bank of Netherlands, Glencore Energy UK, and Emirates National Oil Corporation of Singapore, were left with paperwork and empty coffers.

Now, Devani’s audacious move threatens to pry open the books and expose what actually happened behind closed doors.

The lawsuit is set to send shockwaves through Kenya’s banking and regulatory establishment.

A forensic audit by PricewaterhouseCoopers had previously found that KPC irregularly released fuel in breach of the Collateral Financing Agreement,yet no full public accounting of the receivership period has ever been rendered.

Legal experts say the case could become the most consequential chapter yet in a saga that has defined corporate fraud in East Africa for nearly two decades.

If the court compels KCB and CBK to open their receivership books, it could expose uncomfortable truths long buried under legal proceedings.

The Triton saga, it seems, is far from over.

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In a public notice dated February 2, 2026, the regulator expressed concern over a rising trend where Kenya Shilling notes are being folded, glued, stapled, and pinned together to create cash flower bouquets, money arrangements, and ornamental displays, particularly during celebrations such as Valentine’s Day.

The Bank said such practices render banknotes unfit for circulation and interfere with automated banking systems.

“The use of adhesives, pins, staples, and similar materials damages banknotes and interferes with the efficient operation of cash-handling and processing equipment, including automated teller machines (ATMs), cash counting machines, and sorting equipment,” CBK stated in the notice.

The regulator added that damaged currency leads to increased rejection rates during processing and forces premature withdrawal and replacement of notes, creating unnecessary costs for both the public and the Bank.

While acknowledging that giving cash as a gift is acceptable, CBK emphasized that the presentation method must not compromise the currency’s condition.

“CBK does not object to the use of cash as a gift, such use should not involve any action that alters, damages, or defaces banknotes,” the notice read.

The Bank stressed that currency must remain capable of performing its essential functions as a medium of exchange, unit of account, and store of value.

CBK also reminded Kenyans that defacing currency is a criminal offense under Section 367 of the Penal Code.

“Any person who willfully defaces, mutilates, or in any way impairs any currency note issued by lawful authority commits an offence under the Penal Code,” the notice warned.

The regulator has called on the public to adopt alternative methods of presenting monetary gifts that do not damage banknotes.

“CBK therefore urges the public to refrain from practices that compromise the integrity of Kenya Shilling banknotes and to adopt alternative, non-damaging methods when presenting monetary gifts,” the statement said.

The Central Bank said it will continue public awareness campaigns and stakeholder engagement to protect the quality and public confidence in Kenya Shilling banknotes.

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